Ark Invest Buys $50.1 Million of Tesla Stock After 160,000-Share Slump
Updated
Updated · Yahoo Finance · Jul 29
Ark Invest Buys $50.1 Million of Tesla Stock After 160,000-Share Slump
1 articles · Updated · Yahoo Finance · Jul 29
Summary
More than 160,000 Tesla shares worth about $50.1 million were bought by Ark Invest after the EV maker’s post-results selloff.
Ark’s purchase reflects its unchanged bullish thesis: it still sees Tesla reaching $2,600 a share by 2029, with robotaxi contributing 88% of enterprise value.
Tesla’s stock has come under pressure as Elon Musk’s robotaxi targets repeatedly slipped, missing promises ranging from millions of autonomous cars in 2026 to broad U.S. coverage and 8 to 10 metro areas.
Management has already turned more cautious, signaling large-scale rollout likely waits for FSD v15 and may not begin until late 2026 or early 2027, pushing expected cash flows further out.